Akeena Solar, Inc. (AKNS.OB), a solar systems integrator, has raised $4.1 million in a private investment in public equity (PIPE) offering.
The company issued 2,062,304 shares of common stock and (i) three-year warrants to purchase 206,230 shares of common stock with an exercise price of $2.75 per share, and (ii) three-year warrants to purchase 206,230 shares of common stock exercisable at $3.00 per share.
The company intends to use the net proceeds from this financing for general corporate purposes including growth initiatives, capital expenditures, research and development, and working capital.
Founded in 2001, Akeena is one of the largest national integrators of residential and small commercial solar power systems in the United States.
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